In the matter of Chaptre Finance Plc

In the matter of Chaptre Finance Plc

The court is satisfied that sufficient notice was given, the jurisdictional conditions under section 901A are met, the proposed classes are properly constituted, and there are no procedural or jurisdictional roadblocks. The application to convene three meetings of Plan Creditors is granted.

Parties
Applicant: Chaptre Finance plc; Creditor: Funder Creditors; Creditor: Hedging Bank Creditors; Creditor: Enviva Wilmington Holdings, LLC (Pellet Supplier)
Jurisdiction
England and Wales
Judgment Date
11 September 2024
Procedural Posture
Insolvency/restructuring (convening Hearing) / Application for Permission to Convene Creditors' Meetings Under Part 26 a Companies Act 2006
Outcome
Application granted
Legal Topics
Restructuring Plan, Creditors' Meetings, Class Composition, Jurisdiction, Notice Requirements, Ranking of Creditors, Super Senior Facility
Insolvency Law Company Law Restructuring Plan Creditors' Meetings Class Composition Jurisdiction Notice Requirements Ranking of Creditors +1 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 9 Party arguments 2 Amounts and remedies 7
Sign in to unlock

Parties

Chaptre Finance plc

Applicant

Funder Creditors

Creditor

Hedging Bank Creditors

Creditor

Enviva Wilmington Holdings, LLC (Pellet Supplier)

Creditor

Procedural Posture

Insolvency/restructuring (convening Hearing) / Application for Permission to Convene Creditors' Meetings Under Part 26 a Companies Act 2006

Legal Issues

  1. 1 Whether sufficient notice was given to creditors for the convening hearing
  2. 2 Whether jurisdictional conditions under section 901A Companies Act 2006 are satisfied
  3. 3 Whether the proposed classes of creditors are properly constituted for the purposes of the Plan

Ratio Decidendi

The court is satisfied that sufficient notice was given, the jurisdictional conditions under section 901A are met, the proposed classes are properly constituted, and there are no procedural or jurisdictional roadblocks. The application to convene three meetings of Plan Creditors is granted.

Court Disposition

Application granted

Orders

  • Order convening three class meetings of Plan Creditors to consider and, if thought fit, approve the restructuring plan under Part 26A Companies Act 2006.